Truewind Raises $13 Million in Series A

Truewind Raises $13 Million in Series A

Truewind, a San Francisco, CA-based provider of AI-powered bookkeeping and finance software, has recently raised $13 million in Series A funding.

The round was co-led by Rho Capital and Thomson Reuters Ventures, with participation from Pathlight Ventures, bringing Truewind’s total funding to over $17 million.

Founded in 1981, Rho Capital Partners is a private equity firm with three divisions: Rho Ventures, Rho Canada Ventures, and Rho Fund Investors. Initially a family office, Rho now manages funds backed by institutional investors such as endowments, foundations, and pension funds.

Thomson Reuters Ventures is the corporate venture capital arm of Thomson Reuters, based in New York, New York. Founded in 2021, the firm invests in companies at the seed and Series A stages, focusing on tax, legal, fraud, risk, compliance, insurtech, and fintech.

The company will use the funding to expand its accountant community network, scale its multidisciplinary team, and build out its product features.

Founded by Alex Lee and Tennison Chan, Truewind provides AI-powered bookkeeping and financial modeling solutions designed exclusively for startups. The company's platform delivers a financial back-office experience through AI and concierge service. By leveraging advanced AI technology, Truewind streamlines tasks such as bookkeeping, month-end close processes, and CFO services.

Funding Details

Company: Truewind

Raised: $13.0M

Round: Series A

Funding Month: December 2024

Lead Investor: Rho Capital, Thomson Reuters Ventures

Additional Investor: Pathlight Ventures

Company Website: https://www.truewind.ai/

Software Category: AI Bookkeeping and Finance Solutions